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PROPERTY NEWS |
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| Pam Golding
Properties Launches ‘‘SA Life’’
Magazine - Celebrating life in
South Africa as a prime global destination
has always been a key objective for Pam
Golding Properties (PGP), increasingly so
since 1976 when the group launched its first
international office in London. Read
more here Investment
Property Need Not Cost a Fortune
- As confidence begins to return to the
local property market, investment buyers
are once again beginning to explore the
opportunities on offer. Although the market
is not yet showing measurable capital
growth, there are still ample opportunities
for a sound investment for those taking
a long-term view. Read
more here
|
|
Rare
Opportunity for Lifestyle Farmers
to own a Piece of Cape History
- One of the Boland’s earliest
farms has come onto the market in
Paarl, offering lifestyle farmers
the opportunity to acquire a piece
of South African history. Read
more here
Durban North Ticks all
the Right Boxes for Home Buyers
- Close to 80% of home owners have
lived in the Durban North area for
over five years, a good reflection
of the stability and desirability
of this conveniently situated suburb,
as well as a strong indicator that
the area even exceeds expectations...
Read more here
Buying and Selling as a
Foreigner in South Africa
- South Africa’s well established
legal framework offers first world
security of title to foreign buyers
of immovable property. Read
all the info here
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RESIDENTIAL
LIFESTYLE PROPERTIES FOR SALE IN
SOUTH AFRICA: |
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| PAM
GOLDING PROPERTIES LAUNCHES ‘‘SA
LIFE’’ MAGAZINE |
|
A
celebration of life in
South Africa
Promoting South Africa
as a prime global destination
has always been a key
objective for Pam Golding
Properties (PGP), increasingly
so since 1976 when the
group launched its first
international office in
London.
Celebrate
Which is why,
with the eyes of the world
keenly focused on South
Africa during the Soccer
World Cup, the PGP group
has taken the opportunity
to celebrate the country’s
natural beauty and its
diversity in landscape,
lifestyle and mood with
the launch of ‘SA
Life’ magazine.
Discover
the place that makes you
happiest
Odette Coates, PGP’s
group marketing manager,
is executive editor of
the publication, which
is produced by Publishing
Partnership on behalf
of PGP. Edited by award-winning
journalist Les Aupiais,
and entitled ‘SA
Life – Discover
the place that makes you
happiest’, the glossy,
high-quality magazine
captures the essence of
life in South Africa and
is aimed at primarily
high-end international
readers who may be interested
in living and investing
in South Africa.
South Africa’s
moment on the global stage
Says Dr Andrew Golding,
CE of the Pam Golding
Property group: “Never
before has South Africa
had such an ideal opportunity
to showcase our country
and its unique and varied
appeal to the entire world.
This is South |
|
| PGP’s
inaugural edition
of ‘SA Life’
launches in June |
|
Africa’s moment on the
global stage and as a group,
we are proud to be able to present
a quality publication packed
with compelling reasons to live,
work and play here.
World Class
With high-impact photography
and interesting editorial insights,
‘SA Life’ illustrates
all the regions in our country
in a photographic safari of
culture, scenic beauty, world-class
architecture, art, craft and
its people.
Prime
Investment Properties
Adds Coates: “The words
and visuals capture each region’s
unique energy, diversity and
sophisticated infrastructure
and in addition, ‘SA Life’
illustrates a broad vista of
exciting opportunities in terms
of prime investment properties.
| These demonstrate
the remarkable lifestyle
choices available, from
rural retreats and bush
getaways to world-class
wine farms and luxury
golf estates and from
coastal apartments and
waterfront property to
spacious family homes
and exclusive guesthouses. |
Immigration and
Purchasing as a Foreigner
“It also includes useful
information on immigration and
purchasing property as a foreigner,
offering an enticing snapshot
of South Africa and compelling
reasons to make this a permanent
home, just as many of our buyers
have done over the years.”
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| A
spread illustrating
some of the spectacular
properties on offer
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A
World in One Country
Comments Les Aupiais:
“This is not just
a catalogue of properties
for sale. In a series
of lively essays and carefully
chosen photographs, ‘SA
Life’ truly illustrates
South Africa as a world
in one country, as it
is often described. We
have exceptional light
and space in this country
and the pictorial essays
capture the difference
between the soft ecru
and khaki greens of the
bushveld to the clear
indigo skies of deep country.
Work-Life
Balance
“We
also make the point that
this is a new country,
a country for the entrepreneur,
for someone looking for
work-life balance. And
following this are pages
dedicated to some of the
most spectacular properties
on the market. These deliver
the punch line –
this is South Africa,
settle here and yes, you
will find the place that
makes you happiest.”
Annual Publication
Intended as an annual
publication and with a
print run of 60 000, ‘SA
Life’ magazine is
being distributed through
the PGP network of 300
offices nationally and
internationally, bagged
with ‘House &
Garden’s’
June issue (in Woolworths
and airport outlets) and
also distributed through
a number of leading hotel
groups and hotels. |
Leading
Hotel Distribution Network
These are the Protea Group
(where the North Korea
and Uruguay soccer teams
are staying), Red Carnation
Group (Twelve Apostles,
Bushmans Kloof and Oyster
Box – where the
Cameroon team is staying),
Radisson, Hilton, African
Pride Hotels (including
Melrose Arch) and Cape
Royale, and in KwaZulu-Natal
the Beverly Hills (where
the Greek team is staying)
and Valley Lodge (where
Portugal is staying).
‘SA Life’
is also available electronically.
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Back to Top |
| INVESTMENT
PROPERTY NEED NOT COST A FORTUNE |
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| 1-bedroom
apartment at The Granger
priced at just R2.2 million,
boasting sea and marina
views. |
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As
confidence begins to return
to the local property market,
investment buyers are once again
beginning to explore the opportunities
on offer.
Ample Opportunities
Pam Golding Properties’
managing director for the Western
Cape metro region, Laurie Wener,
says although the market is
not yet showing measurable capital
growth, there are still ample
opportunities for a sound investment
for those taking a long-term
view – and, she says,
it need not require a multi-million
Rand outlay.
Cape
Town Metropolitan Area
“The Cape Town metropolitan
area offers opportunities for
all level of investors in the
current market,” says
Wener, “and that includes
buyers at the lower end of the
market. There is a perception
out there that it’s only
those with deep pockets who
can afford to invest, mainly
in top-end, luxury homes.
Sectional Title
“But in fact, there are
plenty of good buys in the sectional
title market where investors
can spend wisely and expect
good returns, even below the
R1 million mark. |
Rentals
Given the current difficulty
of obtaining mortgage
financing, the rental
market is flourishing
in many areas, so there
are good possibilities
for steady, attractive
rental returns with future
capital growth. The bottom
line is that a good, clean,
secure apartment will
not stand empty for long.”
Purchase
for Long-Term
Wener advises that investment
buyers should view their
purchase as a medium-
to- long-term one and
not expect to make a profit
on a quick turnover. “It
is also crucial to be
sure that you are able
to sustain the financing
of the property for this
period and that you are
not over-extending yourself,
taking into account possible
increases in levies and
rates.
Purchase
Wisely
“We
would ideally advise that
investment buyers have
at least 60% cash equity
to reduce their risk,”
she says. “Buying
in one of the traditionally
recession-resistant areas
is advisable, and if purchasing
in a sectional title complex,
it is essential that buyers
ensure the building is
in good condition and
is being well-managed.” |
Recession-Resistant
- Atlantic Seaboard
Wener cites the
Atlantic Seaboard
as one example of
a recession-resistant
area, where good
deals are available
even in the lower
price ranges. “There
are good buys to
be had in apartment
buildings everywhere
from the V&A
Waterfront to Green
Point, Sea Point,
Bantry Bay and Camps
Bay,” she
says.
Cost
Efficient - City
Bowl
Another prime area
for investors is
the City Bowl. “Contrary
to popular belief,
you don’t
have to spend millions
here,” she
says. “One
can buy a studio
apartment from around
R750 000, or a 1-bedroom
unit for just under
R1 million. Security
is a major factor,
and secure off-street
parking is a minimum
requirement in these
areas.”
Perennially
Popular - Southern
Suburbs
Cape Town’s
perennially popular
Southern Suburbs
are another excellent
choice for investors,
mainly due to their
central location
close to the city’s
top schools, the
University of Cape
Town, and excellent
shopping, sporting
and medical facilities.
“There is
sustained demand
in these areas and
there are many good
deals on the market
at present,”
says Wener. |
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| The
view from Green Point’s
“Harbour Edge”
- 2-bedroom apartment
at R2.5 million. |
|
Main
Commuter Access Points
“One almost cannot go
wrong in a secure building close
to the main commuter access
points. There are numerous completed
new apartments in attractive
developments such as The Quadrant
in Claremont, where one can
obtain a 1-bedroom apartment
from R975 000. These buildings
are conveniently located and
offer sophisticated security
as well as undercover parking.
They are ideal both for investors
and for end-users, including
up-country buyers seeking a
second home for part-time use.”
|
Right:
The Quadrant in Claremont
- 1-bedroom apartment
from
R975 000. |
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Back to Top |
| RARE
OPPORTUNITY FOR LIFESTYLE FARMERS TO OWN
A PIECE OF CAPE HISTORY |
|
One
of the Boland’s earliest
farms has come onto the market
in Paarl, offering lifestyle
farmers the opportunity to acquire
a piece of South African history.
“Rheebokshoogte”
Location
The farm “Rheebokshoogte”
is situated at the head of a
secluded valley on the northern
side of Paarl Mountain, in a
scenic location bordering a
nature reserve. The 97 ha farm
has a tranquil rural ambience
and boasts several dwellings,
including a national monument.
Price
The historic property is on
the market exclusively through
Pam Golding Properties, priced
at R37 million.
Perfect
Ambience and Setting
PGP’s area manager for
Paarl, Surina du Toit, says
the demand for lifestyle farms
in this area remains consistently
high. “As many as 90%
of our farm buyers are looking
for properties like this,”
she says. “For them, the
agricultural viability of the
land is less important than
its ambience and setting. |
|
| An
overview of the residential
portion of “Rheebokshoogte”
near Paarl. The 97-ha
farm is on the market
exclusively through Pam
Golding Properties, priced
at R37 million. |
|
Historic Homesteads
“A sense of place and history
is key and properties with old Cape
Dutch or Victorian homesteads, mature
oak trees and historic outbuildings,
are particularly in demand.
Primary Residence
“These buyers are often relocating
from Gauteng, KwaZulu-Natal and Cape
Town and are seeking a slower way
of life in a more tranquil setting.
They regard these farms primarily
as a place of residence, as opposed
to an agricultural business.
Access
“Access
to good schools and a secure environment
are also leading priorities, but the
unique ambience of the property is
usually the key criterion. Historic
properties such as Rheebokshoogte
are in high demand and short supply,
so they frequently fetch top prices.”
Historic Records
Rheebokshoogte was granted by Cape
governor Simon van der Stel in 1692
to Thinus Dirksz van Schalkwyk. Historic
records indicate that he was a prosperous
farmer and an active hunter. Records
show that by 1826 the farm was owned
by Petrus Johannes Retief and that
it had been planted to 40 000 grape
vines. It is also noted that the property
was one of the most productive and
progressive farms in the area.
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| The
farm’s original
Cape Dutch homestead dating
back to the late 17th
century is still standing
and has been declared
a national monument. |
|
Ideal
Blend of Old and New
Today the property offers an
ideal blend of old and new.
The original Cape Dutch homestead
dating back to the late 17th
century is still standing and
has been declared a national
monument. Its late holbol-type
gable boasts simple mouldings,
and is etched with the initials
of the builder and his wife,
as well as the plasterer and
carpenter.
Original
Features
Several original features have
been maintained, including the
front door, the yellowwood ceiling
in the voorhuis (front house)
and two wall cupboards. The
H-shaped home covers a total
of 316m2. An original outbuilding
has also been incorporated into
the more modern, luxurious 1
610m2 Cape Dutch homestead,
which is the main residence
on the property, boasting 8
bedrooms and 6 entertainment
rooms.
| Other
buildings include a six-bedroomed
home, which is currently
in use as an administrative
office, as well as a small
mountain cottage located
in a secluded spot on
the edge of a dam.
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Lifestyle Buyers or Niche
Farmers
PGP’s managing director for
the Boland and Overberg regions, Annien
Borg, says the farm will appeal to
lifestyle buyers due to its tranquil
and secure location, its historic
background and mature trees and its
magnificent scenic setting. “What
these buyers are looking for is the
rural lifestyle, the peace and quiet,
and the low crime rates, as much as
the production capacity of the land,”
she says, “but should they wish
to embark on small-scale or niche
farming, they will find that the farm
has rich, productive soil and a good
water supply.
Conversion
to Hospitality Property
“Due to the extensive accommodation
on the property, it could also easily
be converted – subject to planning
permission - into a corporate headquarters,
boutique hotel or health spa.”
To
view the property, or for
more information, contact
PGP agent James Visser on
+27 (0) 82 578 2161 or +27
(0) 21 871 1480. PGP’s
area manager for Paarl, Surina
du Toit, can be reached at
surina.dutoit@pamgolding.co.za |
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Back to Top |
| DURBAN
NORTH TICKS ALL THE RIGHT BOXES FOR HOME
BUYERS |
|
Close
to 80% of home owners have
lived in the Durban North
area for over 5 years, a good
reflection of the stability
and desirability of this conveniently
situated suburb, as well as
a strong indicator that the
area even exceeds expectations,
says Carol Reynolds, Pam Golding
Properties area principal.
Perfect
Location
“With
its leafy green environment,
scenic sea views, level grounds
and convenient location, this
area is home to a healthy
mix of residents of varying
age groups. Many residents
have lived here for more than
11 years and the reality is
that those who move into the
Durban North area generally
don’t leave.
18 to 35
“It is interesting to
note that the percentage of
buyers aged 18-35 has doubled
in the past 12 months, while
the percentage of pensioners
buying in to the area has
halved, reflecting that the
buyer profile is shifting
to that of younger families.
Having said that, some 55%
of home owners in Durban North
still fall into the 50 to
64 year-old price bracket,”
says Reynolds.
Consistent
Property Performance
She says Durban North is arguably
one of KwaZulu-Natal’s
most consistent property markets
in terms of both seasonal
fluctuations and supply and
demand. With its proximity
to the new King Shaka International
Airport, Durban’s beaches
and central city and office
parks in La Lucia and Umhlanga,
upmarket Durban North is constantly
in demand for the lifestyle
it provides. |
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| This
gracious home in Durban
North - 5 bedrooms,
3 bathrooms - priced
at R3.4 million. |
| It is home
to exceptional schools
as well as its own self-sufficient
business hub.
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Generous
Size Homes
Residential properties are popular
because the erven are of generous
proportions ranging from around
1 200m2 in central Durban North
to well over 3 000m2 in upper
Durban North. The zoning is
such that in many pockets sub-divisions
of less than 1 800m2 are not
allowed, ensuring that density
remains low.
Gracious
and Spacious
In addition, the houses themselves
are gracious and spacious –
most with 3- to 4- bedrooms,
as well as extras such as garden
cottages and staff quarters.
Pools are commonplace and gardens
usually level and child-friendly.
Most homes cater for outdoor
living with undercover patios
ideal for outdoor entertaining
in Durban’s warm climate.
| The result
is that the area has high
appeal for families given
its convenient location,
access to education and
relatively affordable
pricing. |
Freehold and Sectional
Title
Reynolds says the residential
property market comprises mainly
freehold homes, with a few sectional
title complexes.
Freehold
Prices
During the past 12 months, 95%
of sales were freehold properties,
with an average selling price
which peaked in 2007 at R2.242
million, then declined in 2008
during the recession to an average
of R2.023 million. In 2009 prices
recovered slightly to an average
of R2.135 million, but have
yet to recover to their former
glory in 2007.
Sectional
Prices
“The
sectional title average pricing
graph has shown very little
fluctuation despite the volatile
market of recent years. In 2007
the average sectional title
price was R1.353 million, which
ironically increased in 2008
to R1.495 million and then dropped
in 2009 to R1.275 million, now
recovering in 2010 to an average
of R1.7 million.
Perception
of Security
This reflects general market
sentiment that small secure
properties are increasing in
value due to security concerns
in the country as a whole. Furthermore,
increasing rates and the costs
associated with larger homes
are becoming a deterrent to
some prospective purchasers.
Durban North Sales
“Market activity in Durban
North was not impacted by the
recession as severely as most
areas in South Africa. The number
of sales of freehold homes peaked
in 2006 at 193 sales, reducing
to 167 sales in 2007 before
dropping to 117 sales in 2008.
| In 2009 the
market levelled at this
trough with 118 sales
concluded, and with a
slight relaxation in lending
criteria we are optimistic
that activity levels will
pick up again in 2010.
|
Purchaser Types
Most purchasers in the area
are cash and bond buyers, so
the lending climate certainly
impacts on the property market
in Durban North, although not
as markedly as in lower priced
areas as the number of first
time buyers who require 100%
bonds is very small. On average,
Durban North purchasers are
second and third time buyers
who are able to put down deposits
to secure their homes.
Professionals Carry
Weight
They are also often professionals
who are salaried earners and
the banks look favourably on
this calibre of purchaser in
the current lending climate,”
says Reynolds.
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Back to Top |
| BUYING
AND SELLING AS A FOREIGNER IN SOUTH AFRICA |
|
South
Africa’s well-established
legal framework offers first-world
security of title to foreign
buyers of immovable property.
No Restrictions
There are no restrictions on
the ownership by non-residents
of property situated in South
Africa, except of course that,
foreigners who are in the country
illegally may not own property
here.
Procedures
There are, however, procedures
and requirements that must be
complied with and the next few
paragraphs we will provide answers
to some frequently asked questions
that foreign buyers of South
African property may have.
CAN
FOREIGN FUNDS BE BROUGHT INTO
SA TO PAY FOR THE PROPERTY?
Yes, foreign funds can be paid
into any bank account in South
Africa. Usually the foreign
purchaser will pay the purchase
price for the property bought
into the trust account of the
estate agent that brokered the
sale or into the trust account
of the conveyancing attorney
who attends to the registration
of the transaction.
CAN
MONEY BE BORROWED IN SA TO PURCHASE
PROPERTY?
Non-residents purchasing a property
in South Africa may borrow up
to a maximum of 50% of the purchase
price from a South African financial
institution. The remaining 50%
of the purchase price will therefore
need to be made up of foreign
funds that the non-resident
transfers to a South African
account.
WHEN
A NON-RESIDENT SELLS THE PROPERTY,
CAN THE MONEY BE TAKEN OUT OF
SOUTH AFRICA?
Yes, the proceeds from the sale
of the property can be taken
out of the country (repatriated)
when the non-resident sells
the property. Any sums still
owing under a mortgage bond
over the property must be paid
as the sale transaction is registered
so that only the net proceeds
will be repatriated.
DOWNLOAD
FAST FACTS ON BUYING
OR SELLING PROPERTY
AS A FOREIGNER IN SA
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Pam Golding Property
Group Head Office:
Monterey, 12-14 Klaassens Road, Bishopscourt, Cape Town,
7708.
South Africa
www.pamgolding.co.za |
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